Importance of Marketing Process and Marketing Mix in Organizational Success

Marketing fundamentals
second

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Marketing process and significance of marketing mix................................................................3
Impact of stakeholders on marketing activities and their engagement in business...................10
CONCLUSION..............................................................................................................................12
REFFERENCES............................................................................................................................13

INTRODUCTION
Marketing is defined as the activity set which helps business to create, deliver, exchange
and communicate offerings which builds value for business partners, customers, investors as well
as society (Zeithaml and et.al., 2020). The process executes the different business concepts such
as promotion, pricing and distribution of products so that consumer needs can be satisfied and
organizations can achieve its objectives. The essay will highlight the importance of various
stages of marketing process and role of marketing mix elements in contributing organizational
success. It will also evaluate the role played by various stakeholders and their impact on
marketing activities. For this purpose essay will analyse the organizational example of Hennes &
Mauritz (H&M) which is one of the successful global retailing brand providing vast range of
fashion and clothing products across the world.
MAIN BODY
Marketing process and significance of marketing mix
Marketing activities are known as approaches to create awareness among customers
regarding brand and products and to show the superiority and quality of services so that people
can buy the offered services and products. The reputation of company and communication with
consumers is build greatly through marketing operations (Sharp, 2017). For making business
decisions and to inform customers about the processes companies use various techniques. Thus
the marketing stages and process include several elements which are discussed as below:

Figure 1 Marketing process stages
(Source: Weller, 2017)
Setting a clear mission: The first stage of marketing process is to have a well defined mission so
that customers and employees can be motivated. This element of marketing is very important as
it guides company that in which direction all business activities must be formulated by
management and operational team. The mission statement of H&M is to ensure that extremely
good quality living conditions are accessible to all individuals (H&M mission and vision
statement analysis, 2020). It regularly encourages employees that their first priority must be
quality services and also provide a sense of trust to consumers that services of company will be
satisfactory. The mission statement of H&M focuses the betterment of community and people by
providing good quality designs and fashions.
Situational analysis:
The next stage in marketing process involves situational analysis which helps
organisation to understand and identify both internal as well as external factors affecting
business. Situational analysis stage is one of the crucial elements of marketing process as it helps
companies to understand the market and consumer needs and to improve business process,
objectives and vision accordingly (Brown, 2020). For this purpose companies uses variety of
models and approaches. Some of the most commonly used models are as follows: